Nigerian banks and Lafarge lead record tech spending in 2025
Nigerian businesses ramped up technology spending in 2025, with banks leading the way. Among listed companies, the top 10 alone invested roughly N628.1 billion in tech last year. Lafarge Africa Plc also saw a sharp rise in both revenue and tech costs during the same period. The banking sector dominated technology expenditure in 2025. Eight of the top 10 biggest spenders were banks, making them the driving force behind the surge. Collectively, the top 10 firms poured around N628.1 billion into tech upgrades and systems.
Lafarge Africa Plc stood out with a massive 263.43% jump in technology spending, reaching N6.89 billion. This accounted for 10.50% of its total operating expenses for the year. The company’s overall performance also improved, with revenue climbing 53.04% to N1.07 trillion. Profits after tax soared even higher, rising by 172.72% to N273.1 billion.
The trend reflects a broader push among listed companies on the Nigerian Exchange to modernise operations. Heavy investments in technology signal a shift towards digital transformation across key industries. The 2025 figures highlight a clear pattern: Nigerian firms, especially banks, are prioritising technology. Lafarge Africa Plc’s sharp increases in both spending and profits suggest a direct link between tech investment and financial growth. With the top 10 companies alone spending over N600 billion, the push for digital advancement is reshaping corporate strategies.
